Monday, June 2, 2008

Sharper Image begins yet another episode in the closing of another retail chain. CompUSA went down earlier this year and now another "guys" store. Initial discounts begin at 20 to 40 percent. This is the time to buy that vibrating massage chair you have to sit in everytime you go in one of their stores.

Here's the press release from Buisness Wire:

NORTHBROOK, Ill.--(BUSINESS WIRE)--Store closing sales have just begun at all 86 Sharper Image® stores as part of a major transformation of the Sharper Image brand. Over $50 million of inventory is being sold.

Discounts of 20% to 40% are now being offered on all merchandise in all stores. Consumers will be able to take advantage of deep discounts and important savings on electronics and toys as well as products for the home, personal care, the office and travel.

The store closing program is led by Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC. Michael Keefe, President of Hilco Merchant Resources stated, “This is an outstanding opportunity for consumers to realize unprecedented savings on a remarkable selection of products not to be found anywhere but in Sharper Image stores. This is sure to be a very popular sale, which will not last very long and comes at a perfect time for making Father's Day gift purchases."

Going forward, transformation of the Sharper Image brand will be led by Hilco Consumer Capital, LLC, Gordon Brothers Brands, LLC and additional joint venture partners. The group, which purchased the iconic brand at a bankruptcy auction on May 29, 2008, has developed a global licensing strategy for wholesale, retail, direct-to-retail (DTR), e-commerce and catalog businesses that will exploit The Sharper Image’s heritage of quality, excitement, innovation and fun. The Sharper Image brand will be extended internationally in both existing and new product categories.